KazPost

Kazakhstan News
Friday, Mar 29, 2024

Billionaires Gates & Soros reportedly step in to cover fraction of foreign aid cut by UK, but some question their intentions

Billionaires Gates & Soros reportedly step in to cover fraction of foreign aid cut by UK, but some question their intentions

In an apparent attempt to shame Boris Johnson’s government for its decision to cut Britain’s foreign aid, the who's who of the world of billionaire philanthropy are said to have pledged to cover a small part of the diverted money.

A group of international charities this week pledged to invest £93.5 million ($130m) into causes that will be missing money from the UK this year. The temporary funding will go to poor countries including Bangladesh, Ethiopia, Kenya, Malawi, Mozambique, Nepal, Nigeria, Sudan, South Sudan, Tanzania, Uganda and Zambia. It will be spent on programs including ones that treat neglected diseases and offer contraception.

The move, first reported by the Times on Sunday, is meant to shame the British government over the decision it took last year to reduce foreign aid. Previously, London allocated around 0.7% of the UK Gross National Income (GNI) to foreign assistance programs, but the Johnson cabinet cut this to 0.5%.

The 0.7% GNI benchmark was adopted as a target in the 1970s, when it was recommended by the UN, and made into law under the David Cameron government in 2015. Johnson’s reduction is estimated to amount to £4 billion ($5.56b) in 2021.

The aid cut, which was announced last November, was opposed by some members of Conservative Party, including former prime minister Theresa May who refused to make such cuts during her tenure. Then-foreign office minister Baroness Sugg resigned in protest when the measure was announced.

While many critics argue that denying struggling people funding for lifesaving assistance is contrary to Britain’s moral values, some politicians framed their opposition as a geopolitical calculation.

“When Britain withdraws, others step in. By cutting our aid, we have given states such as China and Russia an opportunity to expand their influence at Britain’s expense,” argued Tom Tugendhat, the Tory MP who chairs the Foreign Affairs Committee. “In fragile and conflict-affected states, UK cuts to humanitarian crises give space for our rivals to convince our friends we don’t matter.”

There has been a push in Parliament to put the reduction of aid to a vote, which the Johnson cabinet has so far successfully resisted. The government tried to appease detractors, saying the measure was temporary and was necessary to invest more into domestic spending.

Philanthropists and some legislators may be vocally objecting to the aid cut, but the measure was quite popular among the British public. A YouGov poll taken at the time it was announced showed that 66% of Britons were in favor. Giving away 0.7% of the GNI made Britain among the most generous countries in the world under the metric. Critics have long doubted that the British taxpayers' money was doing as good a job as it should have.

Unsurprisingly, this week’s shaming attempt was met with some pushback, especially considering the personalities behind the participating charities. Microsoft founder – and “self-appointed world health tsar,” according to critics – Bill Gates led the charge through his Bill and Melinda Gates Foundation.

The list of backers also includes the Children's Investment Fund Foundation, created by billionaire hedge fund manager Chris Hohn, the quiet philanthropy heavyweight ELMA Group of Foundations, the brainchild of South African-born British record magnate Clive Calder, and George Soros’ Open Society Foundations.

Critics brushed the initiative aside as a failing self-promotion attempt and the latest example of billionaires trying to privatize public policy.



Newsletter

Related Articles

KazPost
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
An Ominous Shift in Warfare: Western Powers Risk War Crimes and Violate International Norms with Cluster Bomb Supply to Ukraine
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
Corruption in the European Parliament - Business as usual
UK Crypto and Stablecoin Regulations Become Law as Royal Assent is Granted
Paris Suburb Grapples with Violence as Curfew Imposed: Saint-Denis Residents Express Dismay and Anger
A Delaware city wants to let businesses vote in its elections
Alef Aeronautics Achieves Historic Milestone with Flight Certification for World's First Flying Car
Google Blocked Access to Canadian News in Response to New Legislation
French Politicians Advocate for Pan-European Regulation on Social Media Influencers
×